Salient to Investors: David Stockman writes: Germany has set fire to the Eurozone in order to save it. Lending another $96 billion to a bankrupt country makes no sense, while the fiscal targets set for Greece are ridiculous. Greece has a de facto public debt of $400 billion vs. $200 billion of GDP. Within days the

Salient to Investors: Tyler Durden writes: The IMF has admitted Greece has an unsustainable debt problem. French PM Hollande’s sole focus in the Greek crisis was to preserve near-term stability and his job at any cost – he is guaranteed to lose the 2017 French elections. Once the current generation

Salient to Investors: David Stockman writes: Keynesian central banking has created a worldwide financial bubble. Soaring bond yields and the fear of losing debt market access are the one force that can cause governments to sober-up and acknowledge the facts. Reagan did not want Volcker to ease the intense upward pressure on interest rates and private

Salient to Investors: The OECD said: Widening inequality creates a drag on economic growth that can be counteracted by tax policies to benefit the less well-off. Changes in wages and salaries have been the biggest direct driver of inequality. The earnings of the 10% best-paid workers have risen relative to the

Salient to Investors: Nouriel Roubini at NYU writes: Expect Italian elections in early 2014 but sooner is possible. If there is no solution to Italy’s crisis, the spread will rise to 3 percent in a few days and the calm period for Italian stocks will end. Bank stocks will be

Salient to Investors: A Bloomberg poll of investors, analysts and traders showed: 40% see the euro-area economy as improving, more than 4 times the number in May 40% see the world economy as strengthening, the most since January 2011. 52% expect stocks to produce the best return over the next

Salient to Investors: Nouriel Roubini at NYU said: There has been a global recovery in the last year with the US recovery and reduced tail risks of a eurozone breakup and a hard landing in China. The US economy recovery is very fragile, with barely 2% GDP growth expected in

Salient to Investors: Simon Johnson at MIT Sloan writes: Optimists say Europe is on the mend – the ECB is maintaining stimulus, Germany’s export potential remains large, France will continue to be a haven for investors, while struggling countries such as Greece and Portugal represent less than 1/10 th of the euro area’s economic output and population. However Italy

Salient to Investors: Europe’s biggest real estate managers are making their first investments in southern Europe since the financial crisis as low prices and diminishing risk make commercial properties more attractive. Anne Kavanagh at Axa Real Estate Investment Managers said we are at or near the bottom and starting to see